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What kind of a tax break do I get if I give a 1999 Yukon away as a gift?


The BIDaWIZ Team's Answer:

See IRC 170(f)(12). You are allowed to deduct the FMV [fair

market value] of the vehicle; provided that you satisfy the statutory

requirements. You must obtain a Form 1098-C from the charity

that you donate the vehicle to, and the Form 1098-C must be

attached to your Schedule A, of your Form 1040.

The BIDaWIZ Team



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